Advocacy News

E-News 6-2-23 FEDERAL GOVERNMENT RELATIONS Debt Ceiling Deal Clears House & Senate President Biden and House Speaker Kevin McCarthy, R-Calif., reached an agreement to raise the debt ceiling ahead of a projected June 5 "x-date," at which point the federal government would be unable to service its outstanding debt.  The House voted 314-117 Wednesday night to approve the agreement to raise the debt ceiling. The deal struck by President Biden and Speaker McCarthy cleared the chamber with majorities in both parties voting in favor of the legislation. The Senate voted 63-36 Thursday night in...
MORE

 
E-News 5-26-23 FEDERAL GOVERNMENT RELATIONS House Committee Advances 403(b) Bill With a bipartisan vote of 35 to 12, the House Financial Services Committee this week advanced H.R. 3063, the Retirement Fairness for Charities and Education Institutions Act of 2023. This bill would amend the Exchange Act to allow 403(b) retirement plans – which are offered by public schools, hospitals and certain charities – to invest in unregistered insurance contracts and collective investment trusts that currently may be invested in by comparable retirement plans, such as 401(k) plans. FOMC Minutes: Members...
MORE

 
E-News 5-19-23 STATE GOVERNMENT RELATIONS Indiana $2 Billion Ahead in Revenue Indiana is nearly $2 billion ahead of its current budget after April tax revenues came in well above the expectations of that spending plan. The state is nearly at the end of its current two-year budget, and it has collected more revenue than needed for the budget in all 22 months of that cycle.  This fiscal year, Indiana has nearly $1.9 billion more than the budget plan expected, and state lawmakers have already planned to spend a lot of that money. In the new state budget, Indiana will spend more than $1 billion...
MORE

 
E-News 5-12-23 FEDERAL GOVERNMENT RELATIONS FDIC Announces Details of Deposit Insurance Special Assessment The Federal Deposit Insurance Corp. board Thursday voted 3-2 to propose a special assessment to make up for losses to the Deposit Insurance Fund caused by regulators’ decision to declare a systemic risk exception in the failures of Silicon Valley Bank and Signature Bank. Starting the first quarter of 2024, the FDIC would impose a special assessment on the excess of an independent bank’s estimated uninsured deposits in excess of $5 billion as of last December, or the same for bank holding...
MORE

 

Pages